¶ … Medium Enterprises in Bahrain
Small and medium enterprises (SMEs) represent a significant part of Bahrain's economy, considering that in 2015 they made up 99% of companies registered in the country. Approximately 30% of the Gross Domestic Product in Bahrain is believed to be owed to SMEs, thus demonstrating the degree to which these respective institutions fuel progress in the country. The fact that SMEs provide employees with a more intimate work environment is among the reasons why many eventually come to identify their goals with the objectives of the company they are working in. This in turn leads to employees who are unhesitant about getting actively involved in activities likely to help their workplace as a whole improve.
A SME can be a micro, small, or medium enterprise, with most SMEs employing lesser than 250 individuals. These respective companies are also unlikely to generate turnovers of over 50 million dollars per year. SMEs play an important role in fueling the economy mainly because of the amounts of money they deal with, but also because of the diversity they create in a country. The fact that the majority of companies registered in Bahrain are SMEs means that these institutions provide the...
"According to data compiled by the Kingdom's Labour Market Regulatory Authority and its labour fund, Tamkeen, there are 29,600 SMEs in the country, which collectively employ 206,000 persons. That means SMEs account for 99% of the country's firms and employ 70% of its workforce." (The Report: Bahrain 2011). This really puts things into perspective and makes it possible to understand why these companies represent one of the principal engines of growth in the country.
Some prefer to look at SMEs as being family companies due to the fact that many of these were actually started with a small number of individuals and most of them were related. This further contributes to the idea that SMEs are particularly powerful, taking into account that family members are more probable to acknowledge the overall weaknesses and strengths they have and can thus focus on exploiting these. The authorities have been quick to recognize the importance of SMEs in the country and have been unhesitant about supporting them. According to Minister Zayed bin…
